The first VLCC to directly load a cargo at the Louisiana Offshore Oil Port arrived at the port of Huizhou, China, on Sunday. The Shaden departed LOOP on February 18 after a loading time of about five days. The Saudi Arabian-flagged VLCC is owned by Bahri and took approximately two months to reach its final destination on the east coast of China, according to Platts vessel-tracking software cFlow. Prior to arriving at Huizhou, the Shaden had previously stopped at Rizhao, China, on April 17. Shell loaded Mars onto the Shaden, with Unipec reportedly taking the crude to ports in China. As the only US Gulf Coast export facility that does not require Aframax or Suezmax vessels for reverse lightering on to a VLCC, LOOP is poised to become a major export hub in coming years. Month on month, the Dubai/WTI swap spread has widened 97 cents, putting second-month Dubai […]